Strategy's STRC Variable-Rate Preferred Stock Bounces Back Above $90

Strategy's STRC variable-rate preferred stock has bounced back from its June selloff, closing above $90 for the first time in seven weeks. The rebound marks a nearly 24% recovery from its June 26 low of $74.57.

The stock closed at $92.32 on Monday, up 3.2% from Friday's close of $89.46. This milestone comes after Strategy took steps to support STRC, including the sale of 1,638 Bitcoin for $104.7 million, which was used to fund preferred-stock dividends and repurchase STRC shares.

Strategy also raised $290.6 million through MSTR share sales, allocating $250 million to its dollar reserve and $28.9 million for STRC repurchases. The company increased its dollar reserve to $4 billion and repurchased 912,143 STRC shares for $81.2 million.